IonQ (NYSE: IONQ) and EPB, a Chattanooga-based energy and communications provider, announced plans to establish the Tennessee Quantum Communications Research Center, an R&D lab focused on quantum memory and networking technology.

IonQ will fund the initiative with a $15 million commitment over five years. The center, to be staffed by IonQ scientists and based in Chattanooga, will house what the companies describe as the first commercial quantum memory unit embedded within an operational fiber optic communications network. EPB will provide the live network as a development test bed and serve as the primary commercialization partner.

Quantum memory refers to technology that stores and processes quantum information over fiber channels, which the companies say is a step toward connecting quantum systems across long distances for commercial applications.

The partners project the center will support approximately two dozen jobs, including research scientists and trainees, and estimate the broader economic impact on Tennessee could reach two to three times the $15 million investment.

"Interconnecting quantum computers at multiple locations and linking them directly to end users lays the foundation for the full suite of applications of quantum communications," said IonQ Chairman and CEO Niccolo de Masi.

EPB President and CEO-elect Janet Rehberg said the partnership would connect quantum research efforts across Tennessee through real-world quantum networking capabilities.

The center builds on an existing collaboration between IonQ and EPB at the EPB Quantum Center, which houses an EPB Quantum Network and an IonQ Forte Enterprise quantum computer being prepared for commercial deployment. According to research by a University of Tennessee at Chattanooga economist, EPB's quantum assets are projected to generate up to $1.1 billion in community benefit over the next 10 years.